By State Sen. Daryl Schmitt (R-Jasper)
As a fifth generation Hoosier farmer, I know firsthand the hard work it takes to maintain family farms. That's why this year I was glad to support a new law aimed at protecting farmers across Indiana from financial uncertainty.
Senate Enrolled Act 461 builds upon legislation in recent years and provides added protections for farmers through the Indiana Grain Indemnity Fund.
The indemnity fund was established in 1995 as an insurance program to safeguard Hoosier farmers in the event of a licensed grain buyer's financial failure.
This new law requires grain dealers to be more fiscally responsible and to keep accurate records on their purchases. The law also improves other regulations and procedures for the Grain Indemnity Fund.
The law also provides guidance for the director of the Indiana Grain Buyers and Warehouse Licensing Agency on when they should consider revoking the license of a grain elevator or other licensed grain buyer.
These improvements will help serve and better protect the farmers using these facilities for storage.
Indiana is the seventh largest agricultural exporter in the nation, and the industry contributes more than $35 billion to the state's economy each year. That's why ensuring the farmers who help feed America get the protections they need to maintain successful farms is so important to me, and I was proud to support such an important law.
As always, constituents can reach out to me with any questions or concerns by email at s48@iga.in.gov or by phone at 1-800-382-9467.
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State Sen. Daryl Schmitt (R-Jasper) represents Senate District 48,
which includes Crawford, Dubois, Gibson, Perry, Pike and Spencer counties.
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